Fiserv, MasterCard Agreement Advances Debit EMV Adoption in the U.S.

March 12, 2014 11:00 AM Eastern Daylight Time

BROOKFIELD, Wis. & N.Y.--(BUSINESS WIRE)--Fiserv,
Inc. (NASDAQ: FISV) and MasterCard (NYSE: MA) today announced an
agreement to make MasterCard’s U.S. common debit EMV solution available
for the Accel™
debit network.

Under this agreement, MasterCard issuers receive flexibility to select
and implement network relationships, while merchants and acquirers will
continue to route transactions as they prefer, without introducing
multiple applications and complicated technology upgrades. The agreement
provides Fiserv clients with access to a broad EMV solution.

In January 2013, MasterCard was the first network to offer its
proprietary technology to other U.S. debit networks in an effort to
support the migration to EMV and enable the routing of PIN debit
transactions over multiple, unaffiliated networks. This decision allows
acquirers to brand transactions originating from the Maestro AID
(application identifier) for all debit networks that elect to
participate.

“This represents our continued commitment to help issuers, merchants and
others continue the migration to the EMV standard here in the U.S.,”
said Chris McWilton, president, North American Markets, MasterCard. “In
this agreement, Fiserv and the Accel network are able to provide their
customers a solution that can be activated today, delivering enhanced
security while streamlining implementation and accelerating delivery of
chip cards to our shared cardholders.”

“As a leader in card processing, we are committed to providing our
clients with a simple, streamlined path to implement EMV,” said Kevin
Gregoire, group president, Financial Institutions Group, Fiserv. “We are
pleased to partner with MasterCard as part of a comprehensive,
Regulation II compliant solution that includes Accel Network processing,
card production and personalization, and industry-leading fraud and risk
mitigation.”

The MasterCard U.S. common debit EMV solution is consistent with the EMV
Migration Forum’s recommendations, including a single common debit
application identifier (AID) and single application on each card, as
well as multiple ways to verify the cardholder’s identity.

About MasterCard:MasterCard
(NYSE: MA), www.mastercard.com,is a technology company in the global payments industry. We operate
the world’s fastest payments processing network, connecting consumers,
financial institutions, merchants, governments and businesses in more
than 210 countries and territories. MasterCard’s products and solutions
make everyday commerce activities – such as shopping, traveling, running
a business and managing finances – easier, more secure and more
efficient for everyone. Follow us on Twitter @MasterCardNews,
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About Fiserv

Fiserv, Inc. (NASDAQ: FISV) is a leading global technology provider
serving the financial services industry, driving innovation in payments,
processing services, risk and compliance, customer and channel
management, and business insights and optimization. For more
information, visit www.fiserv.com.